I have been speculating that RWBY would be an anime-style treatment of popular fairy tales ever since I saw the first trailer. It looks like I’m a bit wrong, but I’m not disappointed at all.
It had seemed that Red would be Red Riding Hood, White would be Snow White, Black would be Belle, and Yellow would be Goldilocks, but there isn’t much connection between the characters and their assumed fairy tale connections, besides obvious inspiration. However, it’s worth noting that the first episode introduces Glynda Goodwitch, who is obviously named after Glinda the Good Witch, and that White’s name is Weiss Schnee, which is German for Snow White.
RWBY premiered last week with a new episode arriving each week. Lack of fairy tale connections aside, RWBY is shaping up to be an awesome series.